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Property tax rate in Charleston County: Moving and Buying a home in Charleston, SC
HOME DOWNTOWN CHARLESTON MOUNT
PLEASANT SULLIVAN'S ISLAND DANIEL ISLAND JAMES ISLAND WATERFRONT WEST ASHLEY MEET CHARLESTON AGENTS
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Our taxes are some of the lowest in the country . The Tax Foundation found that people in South Carolina ranked #6 inpaying the least in property taxes across the country.
South Carolina Department of Revenue: Moving to South Carolina - A Tax Guide for New Residents
Visit SCTax.org for your Tax Guide and Estate Tax guide. As of January 2014, South Carolina does not collect State Estate taxes or Inheritance Taxes. This needs to be verified with the Department of Revenue periodically as policies are subject to change.
Comparables: If you would like recent comps for your property in order to evaluate your tax bill, please give me a call. Most people do not question property tax assessment, but in different parts of the country 30-60% of the time the assessment is incorrect.
***Assessment Ratios
The following class specific percentages are used to determine the assessed value of the property for purposes of taxation:
Primary Residences: 4.0% of fair market value
Agricultural Property (privately owned): 4.0% of use value
Agricultural Property (corporate owned:) 6.0% of use value
Other real estate (such as second homes, investment property etc): 6.0% of fair market value
Example of $1,000,000 for Primary residence at 4%
Based on Primary Residence located in Downtown Charleston. Millage rate varies from municaplity to municipality.
Charleston County Tax Estimator
APPRAISED VALUE |
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$1,000,000 |
ASSESSMENT RATIO (PRIMARY HOME RESIDENCE) |
χ .04 |
ASSESSED VALUE |
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|
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40,000 |
COMBINED MILLAGE |
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|
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x .2634 |
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|
TOTAL PROPERTY TAX BEFORE EXEMPTIONS |
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$10,536.80 |
CHARLESTON COUNTY TAX CREDIT: |
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-860.00 |
COUNTY TAX CREDIT χ TAXABLE APPRAISED VALUE |
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(.00086 x 1,200,000) |
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CITY OF CHARLESTON TAX CREDIT: |
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-770.00 |
CITY TAX CREDIT χ TAXABLE APPRAISED VALUE |
|
(.00077 x 1,200,000) |
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*PROPERTY TAX RELIEF(PTR) - primary only |
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-3944.0 |
ASSESSED VALUE χ PTR MILLAGE |
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(72,000 x .0986) |
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TOTAL TAX |
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4962.80 |
SOLID WASTE RECYCLING AND DISPOSAL FEE + storm |
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+135.00 |
TOTAL AMOUNT DUE |
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$5,097.80 |
Example at 1,000,000 for Secondary residence at 6%
Based on a Residence located in Downtown Charleston. Millage rate varies from municaplity to municipality.
APPRAISED VALUE |
|
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$1,000,000 |
ASSESSMENT RATIO (SECOND HOME RESIDENCE) |
χ .06 |
ASSESSED VALUE |
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|
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60,000 |
COMBINED MILLAGE |
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|
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x .2634 |
(FOR CITY OF CHARLESTON AND COUNTYWIDE) |
|
TOTAL PROPERTY TAX BEFORE EXEMPTIONS |
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$15,804.80 |
CHARLESTON COUNTY TAX CREDIT: |
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-860.00 |
COUNTY TAX CREDIT χ TAXABLE APPRAISED VALUE |
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(.00086 x 1,200,000) |
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CITY OF CHARLESTON TAX CREDIT: |
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-770.00 |
CITY TAX CREDIT χ TAXABLE APPRAISED VALUE |
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(.00077 x 1,200,000) |
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*PROPERTY TAX RELIEF(PTR) - primary only |
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-0.0 |
ASSESSED VALUE χ PTR MILLAGE |
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(72,000 x .0986) |
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TOTAL TAX |
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14,174.00 |
SOLID WASTE RECYCLING AND DISPOSAL FEE + storm |
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+135.00 |
TOTAL AMOUNT DUE |
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$14,309.00 |
Frequently asked questions
Berkeley County Taxes
Berkeley County Tax Estimator
2015-2016 MILL RATES - click here
Deed Stamps In South Carolina, the formula for the transfer tax, mostly referred to as deed stamps is $1.85 per $500 of consideration; this is the combined amount for city, county and state taxes. Example:
$100,000 sale: $100,000/$500= 200 x $1.85= $370 total
The transfer tax of $370 is paid directly to the County Register of Deeds by the closing attorney. Transfer taxes are paid at the recording of the deed only, but property taxes are paid every year by the owner of the property.
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Tax Objection:
For homeowners wanting to contest the appraisal on their home. Here is what you should read first about tax appraisal. 2014_Tax Appraisal Objection to request for re-evaluation form.
* Property Tax Credits are applied in Charleston and Berkeley Counties.
**Always check with your county assessor as other charges may apply
*** Tax Auditor's office 843-958-4200
In addition, homeowners at age 65 are exempt from property tax on the first $50,000 of the value of their legal residence, once they apply for the Homestead Exemption at their local county auditor’s office. And property taxes for homeowners are generally low in South Carolina, as legal residences are exempt from the property tax that funds public school operations.
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